IMF Expects Investment in Brazil to Rise

Updated March 26, 2002 7:55 p.m. ET

The International Monetary Fund raised its expectations for foreign direct investment this year in Brazil. Under the IMF's revised forecast, Brazil should receive $18 billion in foreign direct investment in 2002, $2 billion more than previously expected. It also projects Brazil's current-account deficit will narrow to $20.6 billion in 2002, from $23.2 billion last year. The figures were released under the revised terms of a $15 billion standby loan between the IMF and Brazil. With approval of the revised terms by the IMF's board this week, Brazil is eligible to draw $5 billion from the loan, approved last year....